Charlap Engineering Ltd. is considering purchasing five industrial 3-D printers in order to accelerate the development of prototype drones for its clients. The new printers will cost a total of $350,000 plus shipping and installation costs of $35,000. They will occupy 10% of the total space in a new building Charlap has just finished constructing at a cost of $1,500,000. Charlap had made tentative arrangements to lease this space to another company for five years at a rate of $7,000 per year. The printers are expected to have a useful life of five years, at which time they will have a value of $0. Annual after-tax operating cash flows for the new system would be $85,000. Charlap has a weighted average cost of capital of 13%. The applicable corporate tax rate is 35%. The printers fall under CCA class 8 (20% CCA rate). Charlap plans to finance the printers with a bank loan requiring blended (1.e. principal and interest) quarterly payments of $22,000 over the next five years. Use of this new system will reduce net operating working capital by 5% of the printers purchase cost. Required: Determine if Charlap should purchase this equipment